By Nick Worth Joshua Bleak, president and CEO of Passport Potash, Inc. last week announced the resignation of four members of the company’s board of directors. According to a company-issued press release, Passport’s board of directors unanimously voted to decrease the size of the board to five members. Following that decision, the company accepted resignations from Dennis Ickes, Jerry Aiken, Laara Shaffer and Bill Allred. Ickes, Aiken and Shaffer will now join the company’s advisory board. Shaffer also resigned as chief financial officer and corporate secretary. Allred will be taking Shaffer’s place as CFO. “We would like to thank Dennis, Jerry, Laara and Bill for their service as directors of Passport,” said Bleak. “Their unique skills and experience have been a real benefit to the company. We are delighted that they are all interested in continuing their relationship with Passport.” Bleak went on to explain the reason for the change. “Based upon the challenges inherent in today’s resource market, the board felt that a smaller board would best serve the needs of the company and its shareholders,” Bleak said. The company also announced the addition of Frank Hogel as an independent director to the board, effective immediately. Hogel, who has 15 years experience in the financial sector, will serve as vice chairman of the board, and on the audit and compensation committees. According to the press release, Hogel also currently serves as CEO of Peter Beck Performance Funds, and sits on the advisory board of Concept Capital Management, an asset management company focused on evaluating and investing in Canadian resource companies through equity investments and convertible bonds in the gold, silver, rare earth and potash spectrum. Hogel has a Master of Business Administration degree from the University of Nurtingen, Germany, with a focus on financial management, banking, and international business and management. “Mr. Hogel has been a great supporter of Passport and we are thrilled to have his expertise on the board,” said Bleak. Following these changes the company officers are Bleak, president and CEO; Michael Schlumpberger, chief operating officer; Allred, CFO; and John Eckersley, executive vice president. David Salisbury, Hogel, Bleak, Eckersley and Ali Rahimtula are now the directors for Passport. Asked what implications the changes may have for Passport’s plans in Holbrook, Ken Bond, head of corporate development for Passport, said the changes on the board should have no effect on the company’s plans in the Holbrook basin. “I wouldn’t read too much into it,” Bond said. “It’s not uncommon to have a change take place. Sometimes board members themselves have to make a change.” He added that Passport is continuing to seek out investors for the Holbrook mine. “There are always efforts going on to get additional funding or to improve the likelihood of being able to proceed with the project,” Bond said.